Orla McCaffrey

Soaring home prices have driven up home equity, but rising interest rates are making it more expensive to use.

Applications fell 6.5% in the week ended June 3, the fourth consecutive week of declines. Refinance and purchase activity fell 6% and 7%, respectively.

A rise in interest rates has revived demand for ARMs. But gone are the ultralow teaser rates and lax lending requirements.

The average rate on a 30-year fixed mortgage fell to 5.10%, Freddie Mac said, its lowest level in a month after earlier hitting heights unseen in more than a decade.

U.S. stock indexes fell sharply, with the Dow dropping about 1,164 points following signs that rising costs were weighing on some companies’ profits.

Rising interest rates dealt a blow to mortgage originations in the first quarter, with issuance down 25% from a year earlier.

Home Buyers Are Finding Ways to Take the Sting Out of Rising Mortgage Rates  The Wall Street Journal

The average rate for a 30-year fixed mortgage loan jumped to 4.67%, the latest in a weekslong move that has brought the figure up from 3.22% in early January.

Rising borrowing costs pose another challenge for would-be homeowners already facing soaring home prices.

The average rate of a 30-year fixed loan remains near its highest level in three years.

The average rate for a 30-year fixed-rate loan was 3.92% for the week ended Thursday, the highest since May 2019.

The company struck it big selling the American Dream. Now it has to convince investors it can keep growing even in a sleepy mortgage market.

The bank is giving CEO David Solomon and president John Waldron one-time stock bonuses designed to keep the executives at the helm of Wall Street’s biggest bank.

Supercharged home prices in markets across the country are canceling out the impact of modestly higher incomes and historically low interest rates, two factors that typically make owning a home more affordable.

The share of Black homeowners in forbearance in mid-April was about 11%, more than double the overall rate.

In his annual letter to shareholders, JPMorgan CEO Jamie Dimon said strong consumer savings, expanded vaccine distribution and infrastructure investment could lead to fast, sustained growth.

Americans who purchased new homes or refinanced their mortgages over the past few months may have done so at just the right moment.

As 2020 draws to a close, small lenders are doing far better than expected at the outset of the coronavirus recession—largely thanks to government money that passed through banks on the way to households and businesses.

Record-low interest rates are helping home buyers lock in years of savings on future mortgage payments. But those searching for larger homes or in expensive markets aren’t reaping the same rewards.

The average rate on a 30-year fixed mortgage fell to its lowest level in almost 50 years of record keeping. It is the third consecutive week and the seventh time this year that rates on America’s most popular home loan have hit a fresh low.